Originally Posted by
hawkerpilot05
That is wrong. About 1.3 billion was aircraft write offs. Warren doesn't loan you money. He allows you to use Berkshire Hathaway as a guarantee on your loans for a fee so you can go out and borrow money. It was never publicly disclosed how much we borrowed. You could have read a lot about it on the Alice Schroeder blog site but she took it down. Another interesting fact is prior to the meltdown, we never had to pay a fee. Alice was surprised we were given this status. After Sokol came on board, he started paying that fee.
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Well, a loan or a guarantee, whatever you want to call it, I remember management being excited enough to communicate to the pilots when they had paid the entire $1.9 billion back to BH. I was always amazed at how quickly they paid it back despite them constantly complaining about being strapped for cash and not being able to afford any QOL increases for pilots.
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